Hamilton Thorne Ltd (HTL), provider of precision instruments, consumables, software, and services, Monday announced its decision to be acquired by private equity firm Astorg for an enterprise value of about C$388 million in cash.
The purchase price of C$2.25 per share represents a premium of approximately 54 percent to the closing price of Hamilton Shares on July 19, the last trading day prior to the announcement of the transaction.
Astorg also plans to acquire the ART product portfolio of Cook Medical, a provider of IVF consumables for the ART space. Astorg intends to combine Hamilton and Cook ART after closing the transactions.
As per the deal, the company will acquire all shares other than those held by Rollover shareholders. At the closing of the transaction, Daniel Thorne and FAX Capital Corp. (collectively, the Rollover Shareholders) have agreed to roll about 21.3 million shares at an implied value per share equal to the consideration and will directly or indirectly buy equity in the combined company.
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